Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

or the estimates of the revenue were too high, indebtedness thereafter in curred in the prosecution of 'the en terprise would nevertheless be valid, because the law is not so unreasonable as to require in such circumstances the waste of the public funds which would be consequent upon the abandonment of the work in an incomplete condi tion. Judicial expression as to -rhis limitation upon the power of munic ipal officers to contract debts in the name of the corporations, which we think should be insisted on, is not as explicit as might be desired, but This view is clearly intimated in the very strong opinion of the court delivered by Mr. Justice Bradley in Nashville vs. Ray, supra. And the view of Judge --Dillon is that the usual grants of mu -nicipal powers contemplates that the expense of the execution of such powers shall be met year by year from revenue derived from current taxation and other ordinary sources. * ** , is not an authority to the con -trary, for there one of the bonds in issue was da:ted February 11, 1861, and the other June 4, 1861, and both wer; payable January r, 1862. ** * * The endorsement of a note given by a municipal corporation which has no power to borrow money or which has not exercised such power in compli ance with the conditions required by law, cannot avail to giye it validity. The Bank of Prosperity, therefore, tannot stand on any higher ground than the Palmetto Bank and Trust Company. There was never any pow er, either real or apparent, to give the tote and being therefore void -from the beginning, no force could be giv tn it by endorsement. Even when the power to borrow money is ex pressly given, though The hold r of the paper is not bound to see that the -money is properly and lawfully is Lued. The authorities to this effect are so numerous that we refer only to Jones vs. Camden, *** Under the principles of law to which we have adverted -the conclusion can not be avoided that the note held by the Bank of Prosperity having been given for borrowed money is not a valid obligation of the town. Of course, if the. instrument here under* .onsideration7, in form a .note,.is 'to be regarded a bond, that would be an* ad ditional reasorP for holding it void, for it is not .pretenet'.d there was any com pliance with the constitutional con ditions .essentiAl to the validity of a mraiiEipal bona issue. 'The question' is not a practic'al one in this case be cause the instru'tment .is invalid even if. it be regar led as a note since it 'was given -for borrowed money. The court does not, however, wish to be understood as assenting 'to the proposition urged 'by counsel for the plaintiffs that a paper in form a prom issory note 'becomes a municipal bond merely because it has affixed the seal of the corporation. ** * Regarding 'che note entirely void a.nd therefore . elimin~ated from the transaction, it is still to be considered ivhether the 'bank could recover the amount loaned for which the note was given as money had and received by the towri; not 'because it had been Kloaned 'to the town or because its of ficers 'had borrowed it and promised to pay it, ibut because it was money of another used by the town for le gitimate corporate purposes authoriz ed by law. Co'gent argument may be made and strong authority adduced &'n,both sides of this question. The argument against such a recovery is stated with great force by Beasley, ** The view expressed in these and oth er cases is that to allow a recovery for money 'had and received while de nying 'the power to corporate officers to make a valid contract to repay borrowed rhoney, would be, (i) t6 re pudiate such a contract in the abstract while ratifying and giving it full ef fect in the'concrete, and (2) to raise an implied contract to -repay where there is no power to make an express contract. A statement of the basis of 'the action for money had and re ceived, -we venture to think, will show that these arguments are not sound. 'Express contracts -and contracts im plied in fact depend upon the will of the parties to be bou.nd indicated in the one case expressly in some form recognized by law, and in the other -'by circumstances from which assent may be inferred as a conclusion of fact. Quasi-contracts or contracts implied in law are obligations imposed * by law as -duties quite independent of *he assent of the party held to be boud,an of en in pen nohis earnest dissent. In an action on an express contract or a contract implied in fact the measure of the recovery is ordi narily fixed by the promise. In an action depending on The obligation or duty called quasi-contract the meas ure of the recovery is the extent of the duty or obligation imposed by law, and is experssed by the amount which the court considers the defendant has been unjustly enriched at the expense of the plaintiff. If a recovery were al lowed against a municipal corporation on a note for borrowed money, the judgment must be for the amount of the note however large, and though the money may have been squandered. Dut in an action against a town for money had and received the question is not what the claimant has parted with ro officer3 vho were not author ized to take his money for the town or what they have promised him, but how much the 'own has been bene fited. * * * ** * The character of the debt was not clianged by the se-veral renewals of the iiote, ficr it vv.. note created by the original note, which was given entirely without authority, and it therefcre could no- be changed in character by any change of the note. The note was of no force as against the town, but as between the Palmetto Bank & Trust Company and the Bank of Prosperity it should be recognized as the symbol of the debc, and hence I its endorsement to the Bank of Prosperity will be recognized as a transfer of the debt. The note being without validity and not representing the debt as between the town and the bank, the rate of interest expressed in it is of no con sequence. The real debt is $960, the amount actually received and used, wieh interest from July II, 1902, at the rate of 7 per cent per annum, less any sums paid by the town thereon in the form of discount, interest or other wise. Under the views 'herein expressed it is not necessary to discuss the ques tion of acquiescence, but it may be well to say that there was no evidence of participation or active assent by he plaintiffs to the borrowing of th6 oney or the incurring of the debc, and hence there could 'be no estop el. ** * The judgment of this court is that he town council of Prosperity be en oined from paying more than the real ebt as above stated. As the practi al result is mainly in favor of the de endants, the plaintiffs must be charg d with the costs of the cause. Sunday Laws. The city council of Columbia at its reeting on <Tuesday nigh-t passed an ordinance somewhat modifying its former action in regard to Sunday ob servances., It provided 'for a fine of $40.oo or 130 days imprisonment for any person or corporation or firm who shall keep 'his, 'her, their or its places of 'business open on the Sabbath, with a proviso that the "ordinance shall not apply to re-tail drug stores, livery sta bles, wagons and places for the sale or delivery of milk or newspapers, or newspaper stands where newspapers, periodicals and other literature, are exposed for sale; retail fruit stores or stands, retail cigar stpres or stands, retail cigar drug stores or stands where cold drin.ks only are sold." It also provides a fine of $40.00 or 30 days imprisonment for "any per son who shall publicly -laibor, or any corporation, company or firm who shall publicly require any work to 'be done on the Sabbath, except in cases of emergency." There is a proviso which exempts those who labor in such places as are permitted to be opened. It would seem from this that the city council does not object to labor on the Sabbath provided that it is not done pu'blicly. NOTICE-No household is free from danger of accidents, therefore, no household should be withot Shaw's Pure Malt. For sale at the Dispensary. FOUD-The Righlt Place to Buy Fur7iture at Slielley & Summer's. OYSTERS-Freshr Norfolk Oysters at 30, 40 and 50 cents per quart at S. B. Jones'. WHEN you .have a watch or a clock or a piece of jewelry that you want repaired don't forget to con.sult with Ime before you have your work done. W. B. Rikard, Jeweler .a Trhe H:erad and News Office. Don't Rea Unlessi THOSE TH 0. KLE PALACE ( Know That We ai ers of High Prices. ROCK \BOT We don't depend < Quantity and Low us and substantual [antic Ocean, lih I &# ||- Your Interest li QUESTIONS. i. Where do all Low Prices Orig 2. Where are you always treate 3. Where are you given an hone 4. Where cant you buy the most 5. Where is your trade most app 6. Where can you find the "Bes ntil we chang Ne.have the gol As 20 lbs. Sugar ft 2Olbs. good RIi 40 lbs. Arm & I 22 yds. good C 22 yds. Standa In these four d4 the hardest bic we do it." Sol must have beei have a few of-tl where to buy, a all the rest Yours f 0.1K The Crowd The huvi d his A 'ou Like to Rea AT TRADE AT TTNER'S )F BARGAINS re the Champion Slash . The Originators 'of TOM PRICES )n Chin Music or Printed Pr Prices quoted "when you b es the fact That no one this . ess in Greater Newberry Has the Chance to trade where you'can buy the "Best" fo d with consideration and -respect?.............. st, fair and square deal at all times? .. ........... reliable merchandise .for your money?.......... reciated?........................--.---. t forLess?"........................ WHY? TRADING 2 0. KLETT Is Like Finding!i in khe Streel a this advertisment or ods an hand we offer fc a Special.Inducement >r only One Dollar. :e for only-One Dollar. -lammer Soda, Bulk, tor lhecked Homespun foi rd Prints for only One partments we strike < w. They can't under: me even suggest that i stolen. No! no!. rest hie Almighty Dollars, an .s well as how to sell foi or businesS, s, you may Find on Every pulic you will find at 0. K .ji -MW ices! Qualityl uy" advertises ide of the At to Compete with us. "Less" - ANSWERS. . AT 0. KLETTNER'S. . AT 0. KLETTNER'S. . AT 0. KLETTNER'S. . AT 0. KLETTNER'S. . AT 0. KLETTNER'S. AT 0. KLETTNER'S. kT iER'S doney as longs r the cash only $1500 - only $1.00 Dollar. ~ompetitionl stand "how the goods easy. We d we know r less than Corner, le "